- Trump has a bearish structure, but the bullish divergence can lead to a price bounce
- Consistent sales pressure recently meant that recovery would be difficult and traders should be wary to go for a long time
Official [TRUMP] Is reversed from the resistance level of $ 13.84. In an analysis piece last week, Ambcrypto pointed out that the $ 14 level would probably reject the bulls and send the price of the memecoin further south.
However, this has passed and the extension level of 23.6% at $ 11.59 has recently turned to resistance. What is the next step for Trump?
Trump’s Bullish divergence could see profits in the short term
Source: Trump/USDT on TradingView
Towards the end of February the market structure Bullishty (blue) rotated and the price re -tested the local highlight Aroudn $ 18 before it was confronted with a brutal rejection. The speed of the drop left a real value gap (white box).
This resistance was set up with the retracement level of 78.6%. These levels were released on the basis of the upward movement that followed the bullish structure break. And their expansion levels remain valid even now.
In addition to the price, the OBV had a steady downward trend, which emphasizes the emphatic sales pressure. The RSI was also below zero, although it was a bullish divergence with the price for the past two days.
That is why a price bounce can be expected. It could jump as high as the recent lower high at $ 11.59 before he withdrew. A market structure shift would take place on a trade session of 4 hours above $ 11.59. Here it must be remembered that the swing structure of Trump Beerarish has remained. And the $ 13.84 level is the one who needs to be broken to change this idea.
The 1-week liquidation heat revealed the possibility of a bearish reversal at the $ 11 level. The liquidation levels cluster here can be visited before a movement to the south to collect liquidity at $ 10 before the next movement can come out.
In addition to $ 11, the $ 12.82 and $ 14 levels are to pay attention in case Trump succeeds in breaking out above $ 11.6. Until then, the Bias Bearish can stay in the lower schedules.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
